Daily Report: Intervention Talks Dominate, Euro Extends Rebound, Yen Steady Despite F

[Forex-Outlook]

Asian stocks tumble sharply following yesterday's -376pts fall in DOW. Nikkei is down -2.45% to close at 9784, 10000 for the first time since February. Gold also drops to as low as 1166 level before recovering mildly. However, there is little reaction in the forex markets as traders are holding their bets as intervention talk circulates around. Euro extends this week's rebound broadly, led by another sharp rally in EUR/CHF which breaches 1.45 level. Japan Finance Minister Kan is quoted saying he's closely watching markets to ensure the "won't be any excessive yen rises." There are also rumors that RBA is checking prices amid this week's free fall in Aussie.

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